Financial advice firms should make cybersecurity awareness a routine part of professional development rather than leaving it solely to IT teams, according to Redmill Advance.
The training provider’s call comes as new research cited by the business suggests that 38% of UK small businesses experienced a successful cyberattack in the past year. Separate analysis by Comparitech found ransomware incidents in the finance sector rose by 72% in the third quarter of 2026 compared with the previous quarter.
Cybersecurity as professional competence
David Tait, Founder and Managing Director of Redmill Advance, said advisers handle sensitive personal and financial information every day. He argues that protecting it must be treated as part of their professional responsibility, not simply a technical issue for specialist teams.
“Cybersecurity awareness must form part of that ongoing development.”
David Tait, Founder and Managing Director, Redmill Advance
Tait says the aim is not to turn financial advisers into IT specialists. Instead, firms should give people the practical knowledge to recognise potential threats, understand their responsibilities and respond appropriately if something goes wrong.
Protecting trust as well as data
For advisers, a cyber incident can have consequences beyond financial and operational disruption. It can also undermine the confidence clients place in a firm to handle personal financial information responsibly, with potential reputational and regulatory implications.
Redmill Advance says firms should build regular, relevant cybersecurity training into wider development programmes. That means helping advisers understand the risks they could encounter in day-to-day work, rather than treating awareness as a one-off exercise.
Making training practical
Regular training should focus on the situations advisers are most likely to face, from handling client information safely to recognising suspicious activity and knowing how to escalate concerns. The business says this approach can help firms keep skills current as technology and threats evolve.
More information is available from Redmill Advance.
